FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3481+0.0001+0.01%
    USDSGD=X
    1.4777+0.0004+0.03%
    EURSGD=X
    2.0651+0.0003+0.01%
    GBPSGD=X
    91.8239-0.1012-0.11%
    SGDJPY=X
    5.7514-0.0004-0.01%
    SGDHKD=X
    2.7050-0.0027-0.10%
    SGDMYR=X
    9,784.1719-8.1211-0.08%
    SGDIDR=X
    4.5996-0.0007-0.02%
    SGDCNY=X
    1.03180.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.20+0.40+0.03%
    GCQ15.CMX
    16.71+0.04+0.25%
    SIN15.CMX
    69.83+1.07+1.56%
    ^XAU
    2.770.00+0.11%
    HGN15.CMX
    58.11+0.43+0.75%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.02
    ^FVX
    2.13-0.01
    ^TNX
    2.88+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.195+0.020+11.43%
    F13.SI
    0.415-0.010-2.35%
    E5H.SI
    0.335-0.005-1.47%
    AFC.SI
    0.290.000.00%
    5WA.SI
    4.12-0.04-0.96%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.03+20.00%
    P36.SI
    0.155+0.021+15.67%
    5F4.SI
    0.128+0.014+12.28%
    510.SI
    0.195+0.020+11.43%
    F13.SI
    0.33+0.03+8.20%
    T18.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.192-0.108-36.00%
    AYE.SI
    0.15-0.02-11.76%
    5MQ.SI
    0.31-0.04-11.43%
    AYL.SI
    0.098-0.011-10.09%
    O2I.SI
    1.80-0.20-10.00%
    AYC.SI